Investors' Soapbox AM

Chips Could Lead Bear-Market Rally

American Technology sees improvement in first half of 2009.

Updated Dec. 17, 2008 12:01 a.m. ET

American Technology Research

THE BEAR-MARKET RALLY could be led by semis as second derivative data points will likely start improving in the first half of 2009. We are introducing our top-down semiconductor forecast for 2009 of down 20% year-over-year and moving our sector recommendation to overweight from equal weight.